November 2025 – Portfolio Performance Overview
Monthly performance reporting is not just about numbers. It is about understanding how different asset classes behave across varying market conditions and how disciplined portfolio construction supports consistency over time.
Below is an overview of the performances of the main funds and assets managed by INCOME CAPITAL MANAGEMENT for November 2025, contextualized within the broader market environment.
Forex Fund (Aggressive)
- November 2025: +2.00%
- January–November 2025: +32.71%
- Since April 2024: +62.76%
In the final part of the year, a prudent and adaptive approach continued to support performance. Exposure was selectively reduced during more delicate market phases, allowing the strategy to remain responsive while protecting accumulated gains.
This balance between opportunity and risk control remains a core element of the fund’s positioning.
Real Estate Fund
- November 2025: +0.44%
- January–November 2025: +7.43%
- Since April 2024: +13.63%
During November, the real estate market experienced a slight slowdown, a dynamic that is typical in periods characterized by reduced tourism and lower transactional activity.
Despite this seasonal deceleration, the fund maintained stability thanks to sustained demand for quality properties located in prime areas, confirming the defensive characteristics of well-selected real estate exposure.
Physical Gold
- Gold in custody: 13.45 Kg
- Market value as of 30/11/2025: €1,556,972 (€115.76 per gram)
In November, gold recorded a strong appreciation, rising by more than 7% during the month.
Since the beginning of 2025, cumulative growth exceeds 60%, reflecting persistent demand for defensive assets and the role of gold as a long-term store of value during periods of macroeconomic uncertainty.
Global Growth Fund
- Total performance since 15/09/2025: +1.96%
The initial months of activity have been positive, supported by selective exposure to innovative companies and high-potential sectors.
The strategy focuses on long-term growth drivers while maintaining disciplined allocation criteria.
High Yield Fund
- Total performance since 15/09/2025: +1.73%
The fund’s launch phase has been supported by exposure to high-yield corporate bonds and REIT ETFs.
Income generation is pursued within a diversified and risk-aware framework, aiming to balance yield opportunities with structural resilience.
Final Considerations
November’s results reflect a diversified portfolio structure designed to adapt across asset classes and market conditions.
Consistency, selective exposure, and disciplined risk management continue to guide portfolio construction and execution.
Full details are available in the private area under RESULTS:
Access the private results area
This content is provided for informational purposes only and does not constitute investment advice or a solicitation to the public. Past performance is not indicative of future results.
